India News | Rs 1 Lakh Capital, Zero Employees, Rs 200 Cr Land: KTR Questions Tesseract Deal
Get latest articles and stories on India at LatestLY. KTR questioned how a company with a paid-up capital of just Rs 1 lakh and zero employees could be allotted such a valuable parcel of government land,
Hyderabad (Telangana) [India], August 11 (ANI): Bharat Rashtra Samithi (BRS) working president KT Rama Rao on Tuesday demanded a comprehensive probe into the allotment of nearly five acres of government land, valued at around Rs 200 crore, to Tesseract Advanced Systems, a company linked to Chief Minister Revanth Reddy's brother, Anumula Kondal Reddy.
Addressing a press conference at the BRS headquarters in Hyderabad, KTR questioned how a company with a paid-up capital of just Rs 1 lakh and zero employees could be allotted such a valuable parcel of government land, according to a release.
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He claimed that Tesseract had zero employees as of March 31, 2025, while its paid-up capital stood at just Rs 1 lakh. The nearly five-acre parcel, valued at around Rs 200 crore, was allotted for approximately Rs 7 crore, at a rate of about Rs 3,700 per square yard.
"How can a company with zero employees and Rs 1 lakh paid-up capital get five acres of government land worth Rs 200 crore? Is this not a scam?" KTR asked.
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He demanded that the Telangana government make public all documents relating to the allotment, including the Government Order, land valuation, eligibility criteria, investment proposal, employment commitments and details of the officials involved in the decision-making process.
KTR also questioned Minister D Sridhar Babu's claim that Kondal Reddy had no connection with Tesseract. He referred to Kondal Reddy's LinkedIn profile and said the US-India Strategic Partnership Forum had identified him as Chairman of Tesseract Advanced Systems.
KTR said the BRS would approach the Telangana Governor with a formal complaint and, if necessary, move the Lokayukta and the courts. He said the party would continue pursuing the matter until all facts were established and those responsible were held accountable, the release said.
KTR also raised questions over other alleged business, land and contract dealings involving members of the Chief Minister's family and demanded a comprehensive examination of such transactions.
On irrigation issues, KTR demanded that the Telangana government boycott the Godavari River Management Board (GRMB) meeting if the proposed cancellation of approvals for seven Telangana projects remains on the agenda.
He warned that if the issue was not removed from the agenda, the BRS would launch a "Jala Udyamam" in Telangana and intensify its agitation in defence of the state's irrigation rights.
KTR also criticised the Congress and BJP MPs from Telangana for failing to strongly raise the state's interests in Parliament over national status for the Palamuru-Rangareddy Lift Irrigation Scheme, saying, "8 + 8 = 0."
The release said that he further demanded that the government immediately switch on the Narlapur and Kannepally pump houses and ensure that irrigation water reaches farmers, stating that prayers and rituals must be accompanied by concrete action on the ground. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)